TMI BlogConsideration of application for grant of certificate of initial registration.X X X X Extracts X X X X X X X X Extracts X X X X ..... n, the Board shall take into account all matters which are relevant to or relating to the efficient and orderly functioning of a participant and in particular, whether the applicant complies with the following requirements, namely :- (a) the applicant belongs to one of the following categories,- (i) a public financial institution as defined in section 4A of the Companies Act, 1956 (1 of 1956 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d a certificate of registration by the Board under sub-section (1) of section 12 of the Act : 4 [Provided that the stock broker shall have a minimum net worth of rupees 50 lakhs and the aggregate value of portfolio of securities of the beneficial owners held in dematerialised form in a depository through him, shall not exceed 5 [100 times of the net worth of the stock broker]: Provided ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f it has a net worth of ₹ 50 crore in addition to the net worth specified by any other authority;] 8 [(x) a registrar to an issue or share transfer agent who has a minimum net worth of 9 [rupees ten crores] and who has been granted a certificate of registration by the Board under sub-section (1) of section 12 of the Act; 10 [***]] (b) the applicant is eligible to be admitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the SEBI (Depositories and Participants) (Amendment) Regulations, 2003, w.e.f. 16-6-2003. 7 Inserted by the by the SEBI (Depositories and Participants) (Amendment) Regulations, 1997, w.e.f. 7-2-1997. 8 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 1999, w.e.f. 20-5-1999. 9 Substituted for 50 lakhs by the SEBI (Depositories and Participants) (Amendmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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